==>> Nifty resistance at 3125-3150 levels

Markets ended positive after continuing the rally. Global marktets were also +ve for the weak. American markets rallied nearly 8-9% in the weak ended today, so the Indian markets too. Inflation for the Week was nearly at zero levels at 0.27% v/ 0.44% the week earlier. Volumes were pretty good in the week. FII& DII turned out to be net buyers for the week. After the Expiry, Akruti Nirman was taken out of the F&O segment and was put into 'T' group. Today, it opened win a lower circuit. BSE & NSE had nearly Rs.150 difference in the share price. Atleast for 5-6 times the stocks will open in the lower circuit. But the good thing about the stock was, it had only 5% circuit limit.

Nifty has a big resistance at 3125-3150 levels. Today also Nifty made a high of 3123.35 and closed below at 3108. The chart shows that we may see some profit booking on Monday. Markets may see some correction from here onwards. In my last blog i have written about the trendline resistance level. Nifty made a high and closed below the trendline. Nifty has to close above the trendline for few days, for further upside move. RIL chart shows sign of correctio. RIL may come down till 1510 levels. RIL closed down at 1548 after making a low of 1535.